KeyBanc Would Buy Chipotle Mexican Grill (CMG) on the Pullback

February 1, 2022 6:39 AM EST
Get Alerts CMG Hot Sheet
Price: $1,511.92 -1.58%

Rating Summary:
    32 Buy, 12 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 17 | New: 8
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KeyBanc analyst Eric Gonzalez reiterated an Overweight rating and $1,850.00 price target on Chipotle Mexican Grill (NYSE: CMG) seeing the stock’s decline since the start of the year as a compelling entry point for this best-in-class name.

The analyst stated "Chipotle possesses top-tier/accelerating unit growth prospects, a robust innovation pipeline, and significant pricing power, with favorable customer demographics that should help it protect margins from rising costs. Based on our analysis of proprietary data, Chipotle’s trends likely moderated with the industry in January due to Omicron and winter weather, and we trim our 2022 EPS to $32.09, accordingly. However, we believe these temporary challenges are well understood by investors and are confident that underlying demand remains strong."

For an analyst ratings summary and ratings history on Chipotle Mexican Grill click here. For more ratings news on Chipotle Mexican Grill click here.

Shares of Chipotle Mexican Grill closed at $1485.58 yesterday.

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